- First visit of EIB Vice President, Ricardo Mourinho Félix to the region since the launch of EIB Global
- Vice President, Ricardo Mourinho Félix will outline support for Brazil and discuss new financing opportunities
- Meetings with high-level representatives and a new announcement in the renewable energy sector demonstrate the EIB’s strengthened engagement in the region
Ricardo Mourinho Félix, Vice President of the European Investment Bank, will lead a high-level delegation, alongside the EU Ambassador to Brazil, Ignacio Ybáñez Rubio, during his first visit to Brazil as Vice President responsible for the region.
The European Investment Bank (EIB) delegation is on a week-long visit to Brasilia, Sao Paulo and Rio de Janeiro, to reaffirm the EU bank's commitment to maintain its support for projects promoting sustainable development in Latin America. Ricardo Mourinho Félix will announce finance for a renewable energy project in Rio de Janeiro and will hold meetings with key stakeholders to cement the close working relationship between the EIB and Brazil.
“Brazil is the largest recipient of EIB finance in Latin America and we are committed to continuing to support crucial projects both here and across the region. The EIB has provided EUR 4.7bn in financing to Brazil since 1997 and I am expecting to announce additional funding during my visit this week. As the Bank of the European Union and as part of Team Europe, we have launched EIB Global, a new branch dedicated to international partnerships and development finance. Through these solid partnerships we will ensure stronger engagement in region in the years ahead.” confirmed Ricardo Mourinho Félix, European Investment Bank Vice President, ahead of the visit.
EU Ambassador to Brazil, Ignacio Ybáñez Rubio said: “Brazil is a strategic partner of the EU. The importance of our relations was confirmed last November during the visit of the EU High Representative/Vice-President Josep Borrell to Brazil, which included the signature of a renewed Memorandum of Understanding on Cooperation. The visit of the EIB VP Ricardo Mourinho confirms the joint commitment to cooperate with Brazil on sustainable post-COVID recovery. The EU has supported EIB’s actions in Brazil including through the EU guarantee’s scheme with the EIB and the Latin America Investment Facility (LAIF). This visit is crucial for intensifying our joint collaboration through new instruments (guarantees) that will be made available by the EU to support sustainable investment projects in Latin America and Caribbean”.
First visit of the Vice President to Brazil
During the five day visit to Brazil, the European Investment Bank is expected to announce new support for investment in renewable energy projects. EIB Vice President, Ricardo Mourinho Félix will open the ABDE Development Forum event in Brasilia where Head of the Latin American office, Alexandre Staff Varela will participate as a panellist alongside participants from the Bank for International Settlements (BIS), World Bank (WB), AFD and Desenvolve SP. Following the launch of EIB Global this year, the visit will enable a closer working relationship with Brazilian authorities including the ministerial, banking and regional representatives the delegation will meet this week.
EIB Global: a new partner for Team Europe
Last year, the EIB Group provided EUR 8.1bn of financing to projects in more than 160 countries outside the European Union including Brazil, bringing the total amount of investments outside the EU to more than EUR 1.5tn.
In January 2022, the EIB announced establishment of EIB Global, its branch dedicated to international partnerships and development finance. EIB Global will bring together all of the EIB’s resources and expertise gained outside the European Union under a clear management structure that can make a stronger, more focused contribution to Team Europe projects and initiatives.
The first regional hub of EIB Global opened in Kenya’s capital Nairobi, with more offices planned as the EIB strengthens its presence in developing countries, including offices in Jakarta, Indonesia and Suva, Fiji. The EIB has also announced the nomination of a new head of regional office in Latin America. The new head of office, Alexandre Staff Varela will act as the Bank’s main point of contact in the region, from the EIB’s office in Bogotá, Colombia.
The EIB in Brazil
The EIB has significant presence in Brazil through the financing of important public investment projects. Brazil is the largest recipient of EIB financing in Latin America with EUR 4.7bn of funds provided since the Bank started working in the country in 1997.
In recent years, the EIB has financed strategic investments in Brazil in the energy, water, telecoms, urban development sectors, including the Copasa water and sanitation project in Minas Gerais and credit lines with Brazilian banks such as BDMG, BNB and BRDE.
Since the EIB began operating in Latin America in 1993, it has provided total financing of EUR 11.4bn to support 150 projects in 15 countries in the region.
EIB Global is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
